Excessive Deposits/Withdrawals Report

CAMS-ii Release 2.3.0 included a Control-Master Parameter setting (Back Office > Standard > Parameters), Secondary Cash Transaction To Report, that was populated with a value of zero. This caused the Excessive Deposits and Withdrawals Report to be much longer than necessary.

Secondary Cash Transaction To Report parameter tells the system to add entries to the Excessive Deposits and Withdrawals Report when a member has transactions that exceed a certain amount cumulatively over a fixed period of time. For example: A member makes five cash transactions any one of which do not exceed the single transaction limit of $3,000.00 in the Minimum Cash Transaction To Report setting (Back Office > Standard > Parameters), but the transactions total $13,000.00 over the fixed period of time. This may be suspicious activity that should be scrutinized as structured transactions by the Bank Secrecy Act, even though no single transaction exceeds the Minimum Cash Transaction To Report setting.

We recommend that you set the Secondary Cash Transaction To Report parameter to an amount consistent with Bank Secrecy Act guidance on Structured Transactions. Please consult regulatory guidance on the Bank Secrecy Act if you have any questions on Structured Transactions.

If you have any questions about the Excessive Deposits and Withdrawals Report or the Cash Transaction to Report parameters, please address your questions to support@camsbycbs.com.